Forex Weekly Look Back: Robinhood to restore GameStop trading, Brokeree integrates Liquidity Bridge with Ausprime

Looking back at the most intriguing and popular industry news from the past week between 25th and 29th January on LeapRate.

Online brokerage Robinhood, which has been in the eye of the storm during GameStop frenzy in the past week, has raised over $1 billion from existing investors and credit lines from banks to support its financial position after a volatile four days. The move follows Robinhood, Interactive Brokers and other retail broker’s decision to block access to viral stocks such as GameStop, AMC and Blackberry on Thursday. The restriction caused a severe outrage among users.

The multibank FX streaming aggregation and a matching service provider FXSpotStream has announced the addition of FX Algos and Allocations functionality over its API. Clients of the company will have access to more than 70 different Algos and 200+ parameters offered by the FXSpotStream Liquidity Providers (LPs). FX Allocations will enable clients on a pre- and/or post-trade basis to send and allocate orders from multiple accounts at the same time. Support for the two new functionalities is expected to be live in Q2 of this year.

Technology provider for multi-asset brokerages Brokeree Solutions, has announced the integration of its Liquidity Bridge with Ausprime, a CySEC regulated prime of prime brokerage. The integration enables brokers to expand their trading instruments portfolio and manage liquidity through Brokeree’s Liquidity Bridge or an MT5 Gateway. MT5 Gateway is a compact tool that runs on the trading server, allowing the platform to receive quotes and send trade requests directly to a chosen liquidity provider.

Stephan Hänseler, was elected Chairman of the Board of Directors of SIX Terravis Ltd at an Extraordinary General Meeting. Hänseler is currently a Managing Director of SIX SIS Ltd, which provides Swiss central securities depository (CSD) and international custody services to domestic and foreign financial institutions. Before to joining SIX, Hänseler occupied various international positions at Credit Suisse and UBS, in Zurich and Singapore.

Australian fintech company FP Markets announced the launch of The FP Markets Mobile App. The new trading app is intuitive and feature-packed, and allows trader to carry their trading accounts in their pocket. The new mobile trading app is available on all Android and iOS devices. It offers trading on Forex and CFDs across shares, indices, commodities and cryptocurrencies. Traders access more than 60 Currency Pairs, they can also trade in over 50 of the world’s biggest Stocks including Facebook, Google, Apple and Amazon.

The fintech company has reported healthy trading results in 2020. The firm expanded globally, becoming home to traders from over 200 countries and onboarding a record number of new clients. The number of clients registered with Capital Com (UK) Limited, the Group’s FCA authorised and regulated entity, grew 3,600 % between 2019 and 2020. In December 2020, monthly trades had increased 3,673% year-on-year.

CQG, global provider of technology solutions for traders, brokers, commercial hedgers, and exchanges and Denver-based PanXchange, OTC physical commodity exchange and price discovery platform today announced the launch of a new PanXchange widget within the CQG Desktop platform. The new offering offers CQG’s global clients direct access to PanXchange’s benchmarks and analysis content for hemp, frac sand and East African OTC commodities.

Refinitiv revealed today that FX options volumes on FXall reached a 26% year-over-year increase in 2020. A wide range of buy-side institutions use FXall to access deep options liquidity. From a single interface, clients of FXall can trade both vanilla and exotic options strategies, secure the best price from a panel of their preferred liquidity providers, and execute the trade on the relevant regulated venue (SEF or MTF).

The Swiss Stock Exchange announced welcoming Exane Solutions (Luxembourg) SA as the 21st structured product issuer. The first product is a tracker certificate on the Exane Apollo Index in Euro and it has been listed on 22 January 2021, contributing to the diversity of SIX. 2020 was a record year fot the structured products and warrants segment of the exchange. It reached trading turnover of CHF 22.6 billion and a total of 898,304 trades. SIX offers a solid foundation for trading structured products with transparency, efficiency and dependability.

Online gaming and financial trading giant Playtech (LSE: PTEC) responded to rumors on the sale of its financial division Finalto, formerly known as Tradetech. The company confirmed that it is in “exclusive discussions” with a management consortium of Israeli companies for the sale of Finalto. The consortium is backed by Barinboim Group, Leumi Partners Limited, The Phoenix Insurance Company Limited and Menora Mivtachim Insurance Limited.

MetaTrader 5 platform has become available for all of SquaredFinancial’s traders through desktop and mobile application. The addition of the MetaTrader 5 platform happens at the same time as the introduction of futures and shares to the products available for traders. The new trading options include VIX, Gold, Brent and WTI as well as single stock shares from Louis Vuitton to Amazon.

TP ICAP said it could no longer serve some clients in the European Union for now because of delay in finishing its Paris unit. The UK broker blames Covid-19 pandemic for the delay. The company said earlier this month that regulators would allow it to continue serving customers from the EU from London office while it is finishing preparations in France after the transaction arrangements of Britain’s departure from the EU came to an end on 31 December 2020.

Edgewater Markets, technology provider offering access to the FX & Precious Metal markets globally, announced reaching record volumes in RUB for 2020 with double the volumes in the currency during the previous year. The record volumes for 2020 follow the August announcement of exceptional H1 2020 metals performance. Both achievements came during an ongoing pandemic, which validates Edgewater Markets’ business model and value proposition, which provides added emphasis on less liquid pairs.

Forex Weekly Look Back

Germany’s Federal Financial Supervisory Authority (BaFin) filed criminal complaint on Thusrday against one of its employees for suspected insider trading in payments company WirecardBaFin said that the employee of the securities supervision department sold structured products based on Wirecard on 17 June 2020. The date is one day before Wirecard’s auditor EY found that 1.9 billion euros ($2.3 billion) in cash balances were missing from trust accounts. German-based payment company filed for insolvency on 25 June.

Reddit announced its first official blockchain partnership with Ethereum Foundation. The social media platform has been growing its role in the Ethereum ecosystem and the partnership intends to strengthen its commitment to blockchain and accelerate scaling and resources. Reddit as over 50 million users daily and in the announcement, the admin said that the platform has maintained a decentralized environment to help users grow their own communities. This collaboration aims to bring the value and independence of blockchain technology to the millions users on the platform.

Online multi-asset trading services provider OANDA has joined forces with Currencycloud, a provider of B2B embedded cross-border solutions, to deliver a new international money transfer service to companies in North America. OANDA FX Payments, the new solution has been established through a joint collaboration with Shift Connect. OANDA FX Payments allow corporate clients to make easy cross-border payments in 35 currencies, through a safe online platform. The new solution helps companies lower the cost of international transactions while hedging their currency risk and protecting their bottom line. The platform features streamlined users experience and also offers clients a completely personalized customer support service.

CMC Markets, a global provider of online trading and technology solutions, today announced that it has picked Amazon Web Services (AWS) to help deliver the next phase of its digital transformation through accelerated delivery of new products and services. AWS will provide the agility, security and resiliency for CMC Markets to deliver on its product development pipeline. The adoption of AWS has freed up development hours, taking CMC Markets’ delivery time from 6 months to 6 weeks in turn allowing clients to benefit from the faster access to our new product innovations.

Singapore Exchange (SGX) today introduced its pioneering suite of ESG derivatives, accelerating the exchange’s SGX FIRST sustainability initiative. SGX partnered with FTSE Russell in the development of the new contracts in order to offer investors more choice in promoting the integration of Environment, Social and Governance (ESG) factors into institutional investment portfolios on its market infrastructure.

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